Competition and Market Strategies in the Swiss Fixed Telephony Market. An estimation of Swisscom’s dynamic residual demand curve.

Fixed telephony has long been a fundamentally important market for European telecommunications operators. The liberalisation and the introduction of regulation in the end of the 1990s, however, allowed new entrants to compete with incumbents at the retail level. A rapid price decline and a decline in revenues followed. Increased retail competition consequently led a number of national regulators to deregulate this market. In 2013, however, many European countries (including Switzerland) continued to have partially binding retail price regulation. More than a decade after liberalisation and the introduction of wholesale and retail price regulation, sufficient data is available to empirically measure the success of regulation and assess its continued necessity. This paper develops a market model based on a generalised version of the traditional “dominant firm – competitive fringe” model allowing the incumbent also more competitive conduct than that of a dominant firm. A system of simultaneous equations is developed and direct estimation of the incumbent‟s residual demand function is performed by instrumenting the market price by incumbent-specific cost shifting variables as well as other variables. Unlike earlier papers that assess market power in this market, this paper also adjusts the market model to ensure a sufficient level of cointegration and avoid spurious regression results. This necessitates introducing intertemporal effects. While the incumbent's conduct cannot be directly estimated using this framework, the concrete estimates show that residual demand is inelastic (long run price elasticity of residual demand of -0.12). Such a level of elasticity is, however, only compatible with a profit maximising incumbent in the case of largely competitive conduct (conduct parameter below 0.12 and therefore close to zero). It is therefore found that the Swiss incumbent acted rather competitively in the fixed telephony retail market in the period under review (2004-2012) and that (partial) retail price caps in place can no longer be justified on the basis of a lack of competition

Uncle Sam's Ireland The political economy of foreign multinationals in Ireland

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Modified Gibrat growth, entry, exit and concentration development

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The evolution of industry structure using computer simulation

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Life duration of foreign MNE plants Evidence from UK northern manufacturing, 1970-93

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Figure 5. A in Small islands and large biogeographic barriers have driven contrasting speciation patterns in Indo-Pacific sunbirds (Aves: Nectariniidae)

Figure 5. A, map of the Indo-Pacific with the range of the olive-backed sunbird shaded, as currently recognized by BirdLife International. Sampling sites of the birds included in our 697 bp partial ND2 analysis are marked with different triangles, according to the species they were assigned to by ABGD. Currently recognized subspecies are labelled (Gill et al., 2022). B, mean genetic distance (uncorrected p-distance) between each of the species recognized by ABGD, based on a 697 bp partial ND2 alignment. C, simplified version of a combined maximum likelihood (ML) and Bayesian phylogenetic tree of 697 bp of olive-backed sunbird ND2. In this figure the outgroup is omitted and each of the ABGD species is collapsed into a single branch. Nodes are labelled with Bayesian probability/ ML bootstraps.Published as part of Marcaigh, Fionn Ó, Kelly, David J., O'Connell, Darren P., Analuddin, Kangkuso, Karya, Adi, Mccloughan, Jennifer, Tolan, Ellen, Lawless, Naomi, Marples, Nicola M., O, Darren P. & Connell, 2022, Small islands and large biogeographic barriers have driven contrasting speciation patterns in Indo-Pacific sunbirds (Aves: Nectariniidae), pp. 1-21 in Zoological Journal of the Linnean Society CLXVI (CLXVI) on page 12, DOI: 10.1093/zoolinnean/zlac081, http://zenodo.org/record/757383